Updated: SDL and SPI targeting 100 MW of Greek PV projects

SDL Solar and SPI Solar are to install 100 megawatts (MW) worth of photovoltaic projects in Greece. SPI, with SDLs help has signed a memorandum of understanding (MOU) with two Greek venture capital funds, for 30 MW.

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The MOU was signed with Thermi- TANEO Venture Capital Fund and AIMS-TANEO Fund. The New Economy Development Fund, or TANEO, "a Greek-state sponsored, privately funded and independently managed fund-of-funds", is the largest stakeholder in both Thermi and AIMS.

Mike Lambros, managing partner of SDL told pv magazine that a total of 14 projects are currently being evaluated, worth 58 MW. Out of these, 23 MW will be chosen by SDL and SPI, to be executed under their MOU. Construction, he added, will begin in 60 to 90 days, and all projects have secured a feed-in tariff of either 0.372 per kilowatt hour (kWh), or 0.351 per kWh. The photovoltaic modules, meanwhile, will come from LDK Solar.

Under a separate transaction, SDL said that it has successfully helped to sell a 7.4 MW photovoltaic portfolio for SPI, comprising three projects in northern Greece, to Thermi-Taneo Venture Capital Fund. SPI will act as EPC contractor for the projects, on which work is currently underway.

In a statement issued, SDL said it will provide SPI with advisory services for the projects. The company added that it has already advised SPI on its entry into the Greek market, and provided financial and deal advisory, and technical oversight services. Furthermore, it said it introduced SPI to TANEO, in addition to structuring the sale, and financing of SPI’s EPC and operation and maintenance services.

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Becky Beetz

Becky has managed the online presence of pv magazine International since its inception in 2010. As Head of Content, she is currently responsible for content development across all platforms, including our global and regional platforms.

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